Posted on 06/01/2012 5:33:07 AM PDT by NE Cons
The American jobs engine hit stall speed in May, with the economy adding just 69,000 new jobs while the unemployment rate climbed to 8.2 percent.
Photo: Sturti | Vetta | Getty Images --------------------------------------------------------------------------------
As another summertime swoon looms, the Bureau of Labor Statistics reported that job creation missed economist estimates for 158,000 new positions, and said labor force participation remains near 30-year lows though incrementally better than last month.
In May, stocks suffered through their worst month in two years, and the job-creation figures only added to the gloom.
Stock market futures indicated a sharply lower open for Wall Street, while investors continued to pour into bonds, sending the 10-year Treasury note yield tumbling to near 1.50 percent
The report comes a month after the government reported that just 115,000 new jobs were added in April, a number that helped contribute to a general malaise about economic growth.
With worries swelling over the state of the global economy, another weak employment report in the U.S. adds to fears that a sharp slowdown is on the way.
More a summer of wreckovery.
Sounds like its time for another luxury Hawaiian vacation for the occupants of the White House.
ditto here- but i’m not retiring soon....buying opportunity...
“Can’t wait to hear the Obama administration’s spin on this....”Bush’s Fault”......”
Well . . . isn’t Bush’s birthday this month or next? That’s reason enough to for The WON to blame Bush for the bad job numbers.
WHO is stupid enough to expect 150,000 jobs? The morons in the media, already in the frickin’ tank for Obamugabe?
Post of the day. Spot on.
Obama has been faking the U3 numbers so long eventually there was nothing left.
The idea of the unemployment rate going up in May is on its face, absurd. Construction and other outdoor jobs should be increasing, while high school and college students have not yet fully entered the summer jobs market.
5.56mm
It won’t be long before the grass roots order will be given to reactivate the economy. The time of shutdown protest over the election of Obama will be ending soon.
But before it will occur it must be established that any improvements will not be credited to Obama.
Its bee tough the last couple of years having to perform a patriotic protest of the illegal election by doing everything, anything everywhere to throw a monkey wrench into the economy. In the end when Obama is gone America will remember, never again will white guilt make our decisions.
Well he was back in the White House yesterday.
An oatmeal cookie to the first reporter to ask Joe Biden if this is “recovery summer.”
5.56mm
Nah, instead he'll say something Like "The economy is faltering because Congress won't pass my budget." and all the MSM monkeys will nod and agree and report it as fact.
http://www.freerepublic.com/focus/f-news/2889044/posts
"Construction took the biggest hit, dropping by 28,000 for the month."
This is especially troubling. Construction jobs should be increasing in May.
Did I miss something? Were there any large scale weather events in May which killed construction jobs?
HEADWINDS
Look over there! Bain Capital! - Jay Carney
See?? George Bush sets foot back in the White House yesterday and unemployment goes back up today.
Coincindence? I think not. /s
Your Honor...
Counsel presents Evidence Item #1... the regime has failed.
NEW YORK (AP) — U.S. stock futures are plummeting after the release of a report on the job market that was far weaker than economists expected.
Dow Jones industrial average futures, which were down 100 points before the report came out at 8:30 a.m. EDT Friday, shot down an additional 100 points within minutes.
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